MAI Capital Management Sells 22,628 Shares of Crown Castle Inc. $CCI

Key Points

• MAI Capital Management significantly reduced its position in Crown Castle Inc. by 67.1% in the 1st quarter, leaving them with 11,118 shares valued at approximately $1.16 million.
• Institutional investors own 90.77% of Crown Castle's stock, with notable changes including Vanguard increasing its stake by 10.1% and Price T Rowe Associates boosting its holdings by 144.5%.
• Crown Castle recently declared a quarterly dividend of $1.0625 per share, with an annualized yield of 4.4%, scheduled for payment on September 30th.

MAI Capital Management lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 67.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,118 shares of the real estate investment trust's stock after selling 22,628 shares during the period. MAI Capital Management's holdings in Crown Castle were worth $1,159,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in Crown Castle in the first quarter worth approximately $26,000. Iron Horse Wealth Management LLC acquired a new stake in Crown Castle in the 1st quarter valued at about $26,000. Centerpoint Advisors LLC bought a new stake in shares of Crown Castle during the 1st quarter worth approximately $26,000. Stone House Investment Management LLC acquired a new position in shares of Crown Castle in the 1st quarter worth approximately $27,000. Finally, American National Bank & Trust purchased a new stake in shares of Crown Castle in the first quarter worth approximately $29,000. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Performance

Shares of NYSE CCI traded down $2.94 during midday trading on Monday, reaching $93.21. 6,138,074 shares of the company's stock were exchanged, compared to its average volume of 3,272,464. The business's fifty day moving average price is $103.52 and its two-hundred day moving average price is $101.43. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The stock has a market capitalization of $40.59 billion, a PE ratio of -8.73, a price-to-earnings-growth ratio of 0.73 and a beta of 0.92.

Crown Castle (NYSE:CCI - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.02. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The company's quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Monday, September 15th. Crown Castle's dividend payout ratio (DPR) is currently -39.83%.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of recent research reports. Scotiabank raised their price objective on Crown Castle from $109.00 to $114.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. JMP Securities restated a "market outperform" rating and set a $125.00 target price on shares of Crown Castle in a research report on Thursday, July 24th. JPMorgan Chase & Co. lifted their price objective on shares of Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. KeyCorp lifted their price objective on shares of Crown Castle from $122.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, UBS Group raised their price objective on Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Crown Castle presently has an average rating of "Moderate Buy" and a consensus price target of $116.41.

Crown Castle Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service - bringing information, ideas and innovations to the people and businesses that need them.